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Many shale oil firms hedge 2017 prices on Opec rally

They used a similar rally to hedge their prices in May, when WTI 2017 calendar strip also rose above US$50 a barrel

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Independent oil companies are using the post-Opec rally to hedge their price risk for next year, banks and consultants say - a trend that's likely to be viewed with concern from Saudi Arabia to Venezuela.

London

INDEPENDENT oil companies are using the post-Opec rally to hedge their price risk for next year, banks and consultants say - a trend that's likely to be viewed with concern from Saudi Arabia to Venezuela.

The clamour to hedge (locking in future cash flows and sale prices)